Celloglas has sites in Reading, Leicester and Leeds. It offers a range of premium decorative finishing services including laminating, foiling, embossing and varnishing as well as special effect finishes such as scratch ’n sniff and textured haptics.
Celloglas also owns the trademarked Mirri brand of reflective substrates.
Clients include magazine publishers, brands and printers that require specialist finishing. The firm's services are also used in point-of-sale and packaging.
The sale memorandum, ‘Project Star’, issued by Lambert Smith Hampton states that “a challenging economic environment has resulted in a requirement to explore an accelerated sale of the company’s business and assets”.
It is handling the sale on behalf of Celloglas’ directors.
Celloglas sales director Steve Middleton told Printweek: “We are looking for new investment to restructure the company and an offer has already been received.”
The sale memorandum states that Celloglas, which employs 77 staff, had sales of £9.8m in calendar year 2023 and made a net loss of around £100,000.
Sales are predicted to increase to £11.2m this year with a net profit of around £400,000.
The Celloglas accounts for calendar year 2022 are currently flagged as overdue at Companies House. The memorandum states that the company had sales of £10.1m and made a net profit of £300,000 in that financial year.
“Management credits the downturn in historic trading to global economic challenges (COVID & energy crisis) affecting demand and cost base, as well as, until recently, a challenging competitive environment,” Lambert Smith Hampton noted.
Expressions of interest are requested before 10am on 15 April, with an offer deadline of 10am on 22 April.
Offers are invited for the business and assets of the company, and “other reasonable deal structures will be considered”.
It’s more than 15 years since the original Celloglas business, which had employed 300 across 15 sites, went into administration in January 2009. ‘Newcelloco Ltd’ subsequently acquired the business and assets at five of its sites and was then renamed Celloglas.
